Epicor wraps $1.92B term loan repricing; terms

Epicor Software Corp. has completed a repricing of its roughly $1.92 billion covenant-lite first-lien term loan due July 2027 via a KKR Capital Markets-led arranger group, according to sources. Pricing was finalized at the tight end of talk at L+325, with a 0.75% Libor floor, and the loan was issued at par. With this transaction, the issuer lowers pricing on the loan from L+425, with a 1% Libor floor. Epicor, based in Austin, Texas, is a global provider of enterprise resource planning software. CD&R acquired Epicor from KKR in October 2020, and the existing loans remained in place as they were portable. Terms: